News

Queue at Meadowhall

SOME of the world’s most powerful investors are examining bids for Meadowhall, the gigantic shopping centre in South Yorkshire.

Meadowhall was put on the market this year by its owners, British Land and London & Stamford, with a £1.6 billion price tag.

It is one of the biggest malls in Britain, with 1.5m sq ft of space and 30m visitors a year. Its sale will be watched closely as an indicator of investors’ appetite for prime property amid distress in the eurozone.

London & Stamford intends to sell its 50% stake entirely, while British Land wants to keep 25% and continue to manage the shopping centre. Sources said the deal would suit a “passive” investor rather than a retail specialist, because of British Land’s ongoing role.

Meadowhall has attracted the attention of sovereign wealth funds from all over the world. Australia’s Future Fund, China’s CIC, Norway’s Norges and Singapore’s GIC